China's Shanghai Index made a new 3-year low close today, as shown on the Daily chart below. The RSI, MACD & STOCHS indicators are diverging upwards, but are still hooked down.
However, this GXC:SSEC ratio chart shows that Chinese Financials are still rising, but are approaching overbought territory compared with the Index.
Things could get interesting soon in China...more Central Bank stimulus coming? If not, look for their Index to, potentially, fall off a cliff.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) ECONOMIC EVENTS...
* Wed. Nov. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. Nov. 23 ~ U.S. Markets closed for Thanksgiving holiday
* Fri. Nov. 24 @ 1:00 pm ET ~ U.S. Markets close early
* Wed. Nov. 29 @ 2:00 pm ET ~ Beige Book Report
* Fri. Dec. 8 @ 8:30 am ET ~ Employment Data
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Mon. Dec. 25 ~ U.S. Markets closed for Christmas holiday